Sei Investments Co. cut its position in Waters Corporation (NYSE:WAT) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 35,616 shares of the medical instruments supplier’s stock after selling 299 shares during the period. Sei Investments Co.’s holdings in Waters Corporation were worth $6,547,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Watermark Asset Management Inc. acquired a new position in Waters Corporation during the first quarter worth $106,000. Creative Planning boosted its position in Waters Corporation by 1.6% in the first quarter. Creative Planning now owns 744 shares of the medical instruments supplier’s stock worth $116,000 after buying an additional 12 shares during the last quarter. First Manhattan Co. acquired a new position in Waters Corporation during the second quarter worth $130,000. Advisory Services Network LLC acquired a new position in Waters Corporation during the first quarter worth $169,000. Finally, Van ECK Associates Corp boosted its position in Waters Corporation by 7.4% in the first quarter. Van ECK Associates Corp now owns 1,129 shares of the medical instruments supplier’s stock worth $176,000 after buying an additional 78 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Waters Corporation (WAT) opened at 179.76 on Tuesday. The firm’s 50 day moving average price is $180.24 and its 200-day moving average price is $168.19. Waters Corporation has a one year low of $133.35 and a one year high of $187.65. The firm has a market cap of $14.35 billion, a PE ratio of 27.09 and a beta of 0.84.

Waters Corporation (NYSE:WAT) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.05. The business had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. Equities analysts predict that Waters Corporation will post $7.38 EPS for the current fiscal year.

Waters Corporation announced that its Board of Directors has approved a stock buyback program on Thursday, May 11th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities analysts recently weighed in on WAT shares. Janney Montgomery Scott raised Waters Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $183.00 price target (up previously from $166.00) on shares of Waters Corporation in a report on Saturday, April 29th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 price target (up previously from $170.00) on shares of Waters Corporation in a report on Tuesday, April 25th. Zacks Investment Research raised Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a report on Monday, April 24th. Finally, BidaskClub cut Waters Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $186.00.

In other news, Director Christopher A. Kuebler sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the sale, the director now owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rohit Khanna sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $176.46, for a total value of $1,764,600.00. Following the sale, the senior vice president now directly owns 14,077 shares in the company, valued at approximately $2,484,027.42. The disclosure for this sale can be found here. Insiders have sold a total of 98,580 shares of company stock worth $17,730,275 in the last three months. Corporate insiders own 5.07% of the company’s stock.

About Waters Corporation

Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.

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Institutional Ownership by Quarter for Waters Corporation (NYSE:WAT)

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